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Weekly Real Estate Report For June 22: Solano County’s Home Supply Continues To Tumble
June 23rd, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Solano, Suisun City, Vacaville, Vallejo
Lower Inventory, Strong Sales Activity County-Wide Once Again
The recent rise in interest rates hasn’t dampened the mood of prospective home buyers, as this week’s Solano County Real Estate report illustrates.
Vallejo once again led the way, as it has for much of 2009. This past week saw Vallejo’s inventory drop below the 300 mark for the first time all year.
With a 9% weekly drop in its housing supply, Vallejo now has 293 homes for sale — a far cry from the 899 active listings that were on the market in mid-January. For the year, Vallejo’s inventory is down by two-thirds.
Every city in our Solano County market area has fewer homes than it did a week ago. The county’s percentage leader was Suisun City, which saw its supply drop by 16% in the past week.
Elsewhere, Benicia, Fairfield and Vacaville all saw their inventories drop — by between 3.3 and 8.3 percent.
Strong sales and just a trickle of new listings paved the way for this week’s drop in the housing supply.
For the fifth straight week, Vallejo had 50+ new pending sales. Benicia, meanwhile, had its highest weekly pending sales total so far this year — with 12.
This report appears weekly at HomeSection.com — usually on Monday or Tuesday. It’s a great way to stay abreast of the market.
To see this week’s full report, Click Here or on the graphic above.
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